Three of Britain’s richest men have pledged to give 10 per cent of their
fortunes to charity in their wills.

Sir Richard Branson, the Virgin billionaire, Charles Dunstone, the co-founder of The Carphone Warehouse and Jacob Rothschild, the investment banker and patriarch of the Rothchild family, have promised to giveaway a combined sum of nearly half a billion pounds.

They are among other leading businessmen and entrepreneurs who have signed up to the Legacy10 initiative, which will be unveiled on Wednesday.

The campaign, led by Roland Rudd, the founder of the financial communications company Finsbury, aims to get 10 per cent of Britons to pledge 10 per cent of their wealth to charities in their wills.

Anyone who gives away 10 per cent of their wealth can reduce their inheritance tax bill by a tenth to 36 per cent.